Day Trade Take What The Market Gives

Day Trade Take What The Market Gives

Day Trade Take What The Market Gives

During my day trading session, I was able to capture 43 ticks on 5 trades today. Obviously, in hindsight, you are a perfect trader. I was not perfect today, but I was able to take away a gain on the trading day.

The biggest decision came after the release of the Crude Oil Inventory Report. The market initially sold off … it stopped right in front of the pivot point. My initial entry was to go long, but after the failure to hold at pivot I was a seller.

In other words, the volume bar I used to make the initial decision on the long turned into a failure volume bar allowing me to find a place to go sell it short. The Crude Oil Futures market went down my 3P profit target on the trading day …

This was my 9th day in the Live Funded Trading account and I was feeling pressure and tension to remain above the zero line. I believe this influenced me to trade a little too close on my short entry as I was stopped out at 4661 at 10:21AM CST.

If I would have remained patient and trailed at the 1P mark, which was located at 4665, then I would have been able to capture the 3P move or 84 ticks of profit. As you may or may not be aware, the funding department at Topstep Trader makes a big deal about 10 trading days and being above zero in the funded trading account. In fact, my target was to achieve at least a 1,000 profit (gain) by trading day 10.

After 9 trading days in the funded account at TST, I find myself at $868 trading gain. So … I am very close to my profit target. I suppose I could make all kinds of excuses, but until you have real money on the line and the pressure to perform, you really never know how you will respond.

Bottom line, I felt the pressure coming into today to not fail or get close to zero. I was able to take the best trades available, although I know in my heart I could have taken some more profit with a little bit more patience.

Futures Crude Oil Day Trading Charts:

Futures Crude Oil Day Trading Charts:

Futures Crude Oil Day Trading Charts:

Futures Crude Oil Day Trading Charts:

Futures Crude Oil Day Trading Charts:

Futures Crude Oil Day Trading Charts:

Futures Crude Oil Day Trading Charts:

Futures Crude Oil Day Trading Charts:

Futures Crude Oil Day Trading Charts:

Futures Crude Oil Day Trading Charts:

Futures Crude Oil Day Trading Charts:

Futures Crude Oil Day Trading Charts:

Futures Crude Oil Day Trading Charts:

Day Trade Take What The Market Gives …

 

Good Trading,

David M. Knight
TradeCraze

P.S. Today, I actually had 5 trades for 43 ticks net profit on the trading day.

Day 9 TST Live Funded Trader Account Summary:

 

 

 

About The Author

David M. Knight

I am a 30 Year Futures and Commodities Trading Veteran. In addition, I enjoy games of skill and chance like: poker, craps, blackjack and roulette. During my professional career, I have developed and implemented successful trading strategies and methods; along with winning systems in games of skill and chance. Join with me on our mutual journey together.